H.R. 8836: Know Your American Customer Act

Know Your American Customer Act

This bill prohibits covered financial institutions (federally insured banks and credit unions) from opening or maintaining accounts for illegal aliens, with strict documentation requirements to prove citizenship or lawful presence for new accounts (older accounts are grandfathered in). Nonimmigrants and parolees are allowed to open and maintain accounts, but their accounts close within 90 days of the end of their authorized stay.